Stratos Wealth Partners LTD. increased its stake in Edison International (NYSE:EIX) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 3,717 shares of the utilities provider’s stock after buying an additional 97 shares during the period. Stratos Wealth Partners LTD.’s holdings in Edison International were worth $291,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Hexavest Inc. increased its stake in shares of Edison International by 6.5% in the first quarter. Hexavest Inc. now owns 906,888 shares of the utilities provider’s stock valued at $72,197,000 after buying an additional 55,422 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Edison International by 74.0% in the first quarter. State of Alaska Department of Revenue now owns 30,644 shares of the utilities provider’s stock valued at $2,439,000 after buying an additional 13,028 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Edison International by 15.3% in the first quarter. Nisa Investment Advisors LLC now owns 33,715 shares of the utilities provider’s stock valued at $2,684,000 after buying an additional 4,465 shares during the period. DnB Asset Management AS increased its stake in shares of Edison International by 25.3% in the first quarter. DnB Asset Management AS now owns 45,123 shares of the utilities provider’s stock valued at $3,592,000 after buying an additional 9,100 shares during the period. Finally, Washington Trust Bank increased its stake in shares of Edison International by 9.6% in the first quarter. Washington Trust Bank now owns 3,078 shares of the utilities provider’s stock valued at $245,000 after buying an additional 269 shares during the period. 81.85% of the stock is owned by institutional investors.

Edison International (EIX) opened at 79.45 on Thursday. The company has a market capitalization of $25.89 billion, a PE ratio of 18.79 and a beta of 0.22. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The firm’s 50-day moving average price is $78.48 and its 200 day moving average price is $78.60.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Equities research analysts expect that Edison International will post $4.24 earnings per share for the current fiscal year.

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Several analysts have recently commented on the stock. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a research report on Monday, June 19th. Mizuho reaffirmed a “buy” rating and set a $91.50 price objective on shares of Edison International in a research report on Wednesday, April 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 price objective (up previously from $78.00) on shares of Edison International in a research report on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $83.00 price objective (up previously from $80.00) on shares of Edison International in a research report on Tuesday, May 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $85.00 price objective (up previously from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.46.

In other news, Director W Brett White sold 2,500 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total transaction of $204,175.00. Following the transaction, the director now directly owns 2,500 shares of the company’s stock, valued at $204,175. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,035 shares of company stock worth $2,460,285. Corporate insiders own 0.41% of the company’s stock.

Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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